Does the domain age play a part in the search ranking?

If you spend enough time looking at search engine results, eventually it will occur to you that sites seem to be ranked in part based upon the length of time they have existed. It can appear that older sites tend to rank higher than newer sites, and one can be tempted to conclude that age is a factor in the search engine algorithms.  

PURCHASING OLD DOMAINS
Using Godaddy auctions, you can find older domains for your business.  These will help in the ranking process. If the site was well run and has a number of existing back links already, then purchasing an older domain would definitely help with your search optimization efforts.  Even if you built a brand new web site, the pages will index faster and get ranked faster.
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